Johnson & Johnson ends talks to buy Actelion

Markets Associated Press

Johnson & Johnson says it is ending talks to buy Swiss drugmaker Actelion Pharmaceuticals.

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The New Brunswick, New Jersey-based health care giant said Tuesday it was unable to reach a deal that would have created "adequate value" for its shareholders.

Johnson & Johnson develops drugs and makes medical devices and other consumer products. It is behind such brands as Band-Aids, Tylenol and biologic immune disorder drug Remicade.

Actelion Pharmaceuticals Ltd. makes high blood pressure medicines that treat arteries in the lung and around the heart.